The first PFP NFT collection to explore breeding mechanics and GameFi elements
CyberKongz has evolved into an NFT ecosystem with several distinctive collections. Notably, the project was among the first to explore innovative Web3 gameplay such as breeding mechanics and introducing a social token, BANANA. It also took a step into the gaming realm by forging a partnership with Ronin and releasing the gaming-focused collection, Genkai. As CyberKongz embraces the gaming world, the question arises: does it have a promising future?
Contents
What is CyberKongz NFT?
CyberKongz is one of the earliest pioneers in PFP NFT projects. Its Genesis Collection features 1000 randomly generated pixelated NFT gorillas. Launched in March 2021, these chubby-looking cyber apes quickly soared to fame.
At the core of CyberKongz’s success lies a spirit of innovation. Early on, the project distinguished itself by introducing sub-collections and a utility token called BANANA, greatly enhancing the community’s engagement and experience. As the project evolved, it expanded its ecosystem to encompass The VX collection, 3D avatars, and Baby Kongz, while the eagerly anticipated Genkai collection on the Ronin network is set to join the CyberKongz family soon.
Beyond its technological feats, CyberKongz demonstrates a heartfelt commitment to charity. The project has been actively donating a portion of its sales to a series of animal welfare organizations, improving the lives of their ape fams in the real world.
Who is behind CyberKongz?
CyberKongz was initially founded by the artist Myoo, but it has now evolved into a community-driven project. Members play a crucial role by utilizing their BANANA tokens to vote on proposals, directly influencing the project’s development.
NFT Collections in CyberKongz’s ecosystem, and their utilities
CyberKongz boasts a diverse ecosystem with four unique collections: Genesis, Baby CyberKongz, VX, and the upcoming Genkai. Each collection serves a distinct role in the world of CyberKongz. Collectors can easily trade these NFTs on popular platforms like OpenSea and Blur marketplace.
CyberKongz Genesis
The Genesis CyberKongz were the initial 1000 CyberKongz released, including 10 Legendary ones and MyooKong (#810), the mascot. These NFTs are not only OG PFPs for the 2D social world but also bring unique perks to their holders.
As of 26 July 2023, the Genesis Collection’s trading volume sits at a staggering 28,985 ETH (equivalent to $5.38 million), with a floor price of 8.7 ETH ($16,138).
CyberKongz Genesis utilities include:
- 10 BANANA tokens every day until 18 March 2031.
- 2 Genesis Kongz and 600 BANANA were used to breed the 4,000 Baby Kongz.
- Each Genesis is able to claim a matching VX Kongz avatar.
- Genesis Kong can get a kongz.eth ENS subdomain.
- Exclusive events and merchandise.
10 Legendary Kongz and their holders:
Baby CyberKongz
The adorable Baby Kongz are produced through the breeding of two Genesis Kongz. However, this process demands a substantial amount of energy, costing 600 BANANA to fuel the breeding. With a collection of 4000 unique items, these cute baby gorillas serve as a crucial part in the CyberKongz gamification experience, Play & Kollect.
As of the current writing, the baby collection has achieved an impressive trading volume of 35,394 ETH, which amounts to $65.7 million. In July 2023 the floor price for these baby gorillas stood at 1.1 ETH.
Baby CyberKongz utilities include:
- Each CyberKongz baby can claim a VX Kongz avatar.
- Baby Kongz can get a kongz.eth ENS subdomain.
- Baby CyberKongz yield non-transferable shards, which can be converted to Charmz. Charmz are used to improve your Play & Kollect results.
- Exclusive events and merchandise.
CyberKongz VX
CyberKongz VX offers 14,846 metaverse-ready 3D voxel-based avatars, specially designed for online metaverse platforms like The Sandbox. These avatars were minted at 0.07 ETH in August 2021, but both Genesis and Baby Kongz holders can claim them for free.
The CyberKongz VX collection has achieved an impressive trading volume of 35,502 ETH, around $65.9 million. The floor price trades at 0.22 ETH in July 2023.
CyberKongz VX utilities include:
- VX Kongz are compatible and integrated ready to explore The Sandbox.
- They are playable characters in the on-chain game Play & Kollect.
- Get a kongz.eth ENS subdomain.
- Exclusive events and merchandise.
The Genkai collection
Genkai is the next phase of the CyberKongz brand, featuring a collection of 20,000 anime-inspired collectibles. These NFTs will play a significant role in CyberKongz’s alternative universe, Niakea.
Notably, this expansion aims to reach the Southeast Asia and Japanese markets, crafting Web3 IP through a gamified approach. To achieve this, the project partners with Ronin, an Ethereum sidechain known for hosting Axie Infinity and specializing in blockchain gaming.
NFT distribution breakdown
- Ethereum: 16,000 (9,000 for sale, 7,000 airdropped to CyberKongz holders with 180 day vesting period).
- Ronin: 3,000 for sale in RON/ETH, 939 gifted to Mystic holders by Sky Mavis with 180 day vesting period. 61 held by Sky Mavis for the incentive program).
Highlights of CyberKongz Genesis market performance
The Genesis collection holds a prestigious position as the most valuable collection in the CyberKongz ecosystem. Because the collection offers a mere 1000 items, making them exceptionally scarce. On 15 April 2021, the Genesis collection achieved a significant milestone, reaching 2,000 ETH (equivalent to $5 million at the exchange rates in July 2023) in secondary market sales.
Notably, on 4 October 2021, the Genesis collection set a historical record with its average trading price on OpenSea, reaching an impressive 178 ETH (approximately $609,808).
The CyberKongz brand gained even more prominence through an auction at Christie’s, held between 4 and 7 December of the same year.
The auction saw CyberKong #201 sell for 185 ETH ($793,439), while CyberKong #46 fetched 96.6 ETH ($414,304). The proceeds from both sales benefitted the Virunga National Park.
What is the BANANA token?
BANANA is the utility token that facilitates the CyberKongz ecosystem.
- Breed Baby CyberKongz.
- Spend BANANA tokens to customize CyberKongz.
- With 0.4 BANANA, users can send one of their CyberKongz VX on a jungle adventure to collect exclusive NFTs, and compete for the seasonal BANANA prize pool.
- Holding BANANA tokens grants users voting power in the CyberKongz DAO.
Genesis CyberKongz generate BANANA on the Ethereum mainnet, while Polygon BANANA (pBANANA) was introduced for Play & Kollect. In early 2022, a contract migration enabled BANANA bridging from Ethereum mainnet to Polygon, making both types of BANANA available.
To acquire BANANA, you have multiple options. This includes participating in the Play & Kollect gamified experience, or taking part in various contests and bounties organized by Cyberkongz and their partners.
Alternatively, users can trade BANANA on both Uniswap and Quickswap.
Is CyberKongz a good investment?
The CyberKongz ecosystem presents a captivating blend of NFT collections, each offering unique experiences for holders. At the core of this ecosystem lies the Genesis collection, featuring 1,000 rare and distinctive 2D avatars. Initially minted for a mere 0.01 ETH, these NFTs have grown significantly in value, now worth 8.7 ETH.
However, like many prominent collections, CyberKongz faced a considerable decline in value during the bear market. This volatility in the NFT market raises concerns for potential investors, as it emphasizes the need for caution and careful consideration.
Examining the distribution of ownership within the CyberKongz ecosystem, some aspects also warrant attention. Only 48% of the OG collection is held by unique owners, while Baby Kongz and The VX collection have even lower percentages, at 47% and 27%, respectively. Such figures may raise concerns about market manipulation and concentrated ownership.
As with any investment, it’s essential to conduct thorough research and understand the dynamics of the market before making decisions.
What does the future look like for CyberKongz?
With the partnership with Ronin, CyberKongz opens the door to seamless integration with the vibrant gaming scene on the platform.
As players embark on their Genkai adventures, they will witness how the ecosystem’s diverse collections intertwine and complement each other. Additionally, the utility token, BANANA, will probably play a role in enhancing the gaming experience.
DappRadar will keep an eye on its development, ensuring enthusiasts stay informed about the latest advancements in CyberKongz.
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